Europe Lubricant Additives Market - Global Trends, Share, Size, Growth, Opportunities and Forecast to 2028

According to Business Market Insights’ research, The Europe Lubricant Additives Market was valued at US$ 2748.36 million in 2021 and is expected to reach US$ 3435.89 million by 2028, registering an annual growth rate of 3.2% from 2021 to 2028. Rapid industrial growth and growing demand for synthetic lubricants are the critical factors attributed to the market expansion.

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The List of Companies 

  1. Evonik Industries AG-Global.
  2. The Lubrizol Corporation-Global.
  3. LANXESS-Global.
  4. Mol-Lub Kft-Europe.
  5. Nouryan- Global.
  6. EXXON MOBIL CORPORATION-Global.
  7. Croda international plc- Global.
  8. Chevron Corporation-Global.
  9. BASF SE-Global.             

Synthetic lubricants are widely utilized in industrial operations and the automotive sector due to their numerous advantages. Their superior properties and ability to ensure operational consistency make them a preferred choice over natural mineral oils. Among synthetic oils, polyalphaolefin (PAO) lubricants are the most commonly used in both industries. PAOs offer exceptional physical and chemical characteristics, including a higher viscosity index, lower volatility, reduced pour point, and enhanced thermal stability.

High-performance applications in advanced automotive engines primarily rely on Group III and IV base oils. These premium base oils are essential for complex applications, driven by stringent emission regulations, evolving fuel efficiency standards, and greater blending flexibility.

Lubricant additives play a crucial role in enhancing the performance of lubricants in industries such as automotive and manufacturing. These additives improve key properties by increasing viscosity index, reducing volatility, and lowering the pour point. Commonly used additives include viscosity index improvers, pour point depressants, dispersants, and detergents.

As the demand for synthetic lubricants continues to rise, the need for specialized additives is expected to grow in parallel. Consequently, the Europe lubricant additives market is projected to experience significant growth at a notable CAGR during the forecast period.

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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